Below it, there are no support levels that could slow the decline, so the fall could be very sharp.
Today, there was a good test of the level: the price came right up to it, consolidated on low volatility, confirming it cleanly, and then made a weak pullback.
This weak pullback signals an absence of buyers who might "save" the asset, which is why there could be a good short opportunity here.
Key factors for this scenario
- Global & local trend
- Price void / low liquidity zone beyond level
- Asset decoupled from the market (relative strength/weakness vs. BTC)
- Volatility contraction on approach
- Immediate retest
- Prolonged consolidation
- No reaction after a false break
Note
Since the analysis was published, VFYUSDT.P has not approached the key level.Instead, the asset continues to be in a narrow consolidation, practically standing still.
I have set an alert and continue to wait for the situation to develop.
Trading facts, not expectations.
Follow our full analysis & track record on Telegram: t.me/the_traders_house
Not financial advice. High risk. DYOR.
Follow our full analysis & track record on Telegram: t.me/the_traders_house
Not financial advice. High risk. DYOR.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trading facts, not expectations.
Follow our full analysis & track record on Telegram: t.me/the_traders_house
Not financial advice. High risk. DYOR.
Follow our full analysis & track record on Telegram: t.me/the_traders_house
Not financial advice. High risk. DYOR.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.